Hong Kong Monetary Authority's Eddie Yue: Arbitrage trading has begun in the market, expecting Hong Kong dollar interbank rates to rise.

According to the Intelligent Finance and Economics APP, Hong Kong dollar interest rates rose on Monday (June 23), with the one-month interbank rate related to mortgages ending a two-day decline, rising by 15.52 basis points to 0.68363%, the highest since June 5. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, said that benefited from the upward trend in the stock market and the hot IPO market, Hong Kong has been experiencing continuous inflows of funds since May. The Hong Kong dollar interest rate is low, but the market has started to see carry trade transactions, with the Hong Kong-US interest rate spread widening to 3% to 4%, causing the Hong Kong dollar to approach the weak-side exchange rate level of 7.85. It is expected that the Hong Kong dollar interest rate will rise.